US HB3248

Establishes a domestic ownership succession investment facility within the Department of Commerce to provide up to $5 billion annually in government-guaranteed leverage to licensed "ownership investment companies" that finance employee stock ownership plans (ESOPs) and worker-owned cooperatives

Requires ownership investment companies to invest 100% of capital in "covered investments," with at least 50% financing sales of majority ownership interests to ESOPs or worker cooperatives, with mandatory independent trustees and fairness opinions on transactions

Creates a "Protégé OIC" mentorship program for emerging fund managers with less established track records, allowing up to 20% of total leverage ($1 billion annually) to be allocated to these newer firms with a cap of $100,000,000 per firm

Mandates minimum private capital of $10 million for licensees and caps leverage at 100% of private capital or $500 million per company (whichever is less), with up to $1 billion for commonly controlled companies; debentures guaranteed by the federal government may have terms up to 15 years

Sunsets the licensing authority 20 years after the first license is approved and requires annual reporting to Congress including data on ESOP participants, demographic information, and government losses from the program